Paxful Review: Easily Buy And Sell Bitcoin

In the search for a platform that will allow us to buy and sell Bitcoin in the easiest way possible, we highlight Paxful in this article .

This platform competes with the global platforms available to buy and sell digital currencies directly between users, and it only plays the role of an intermediary.

On this site you will find dozens of sellers who provide Bitcoin for sale and you can buy from them, while if you want to sell you have to do the same.

This company has about 200 thousand users in addition to that it offers about 300 ways to buy Bitcoin and also to get cash when selling.

• What is the Paxful platform ?

This platform was established in 2015, and it has turned into an essential tool for buying and selling digital currencies, especially in African markets that suffer from a lack of electronic solutions at the level of payments.

This platform focuses on one currency, Bitcoin, which you can use on cryptocurrency exchange platforms to convert it to Ripple and the rest of the digital currencies.

You can buy bitcoin on this platform and then convert it to ripple via Changelly which is reliable, and you can convert digital currencies into Bitcoin via the previous platform and then sell it on Paxful.

In 2018, 41 percent of Paxful's $ 20 million revenue was generated from the continent of Africa.

• How does the Paxful platform work ?

The platform provides buying and selling Bitcoin through merchants who are available on the site, and ensures the reputation of merchants by confirming their identity and also proving that they are real people and revealing their information, and this is to prevent them from fraud or suspicious financial practices through the site.

On top of this, the platform provides you with a digital wallet to store your Bitcoin, and uses encryption and protection mechanisms to prevent your loss of money.

When selling Bitcoin, the site will take care of the process of transferring it from your account to the buyer's account, but after you confirm that you have received the money from the buyer, and that is why there is no fear of selling Bitcoin on this platform.

You can go to the Buy section to get Bitcoin and select your country and payment tools, or the Sell section and do the same to sell what you have.

You can create an offer or advertisement on the site to sell what you have or demand to buy a certain amount of Bitcoin, and wait for offers from interested users.

• Is the Paxful platform available in my country?

The platform supports Morocco, Egypt, Saudi Arabia, the UAE, Tunisia, Algeria and various countries of the world, including Jordan, Oman, Bahrain and Qatar.

But at the same time, unstable countries such as Lebanon, Libya, South Sudan, Syria, Yemen, Iraq and Iran are prohibited from using the platform.

• Paxful's fees

Paxful makes its money by charging sellers a one percent fee, and the seller can sell Bitcoin at any price it can find buyers.

Network fees are also charged for Bitcoin processing (the cost of mining), and buyers only pay applicable payment processing fees.

• Is the Paxful platform safe?

The platform is keen on its reliability and security of financial transactions, and it freezes the bitcoin that is being sold until it is sure that the buyer has paid the money to transfer to his wallet what he has bought from the amount:

$ 1,500 Trading or Portfolio Activity - ID Verification

$ 10,000 - ID verification and address verification

Jumio's trusted AI-powered identity service verifies real-world identities using identity scans and biometric real-time authentication.

The site supports new encryption mechanisms and the HTTPS protocol that Google recommends for websites, in addition to two-step verification and verification of users' phone numbers.

• How do I use Paxful to buy other digital currencies?

First you have to buy bitcoin with it, and then you work on using Changelly to convert Bitcoin into the currency you want from the supported digital currencies.

Then it is best to store the digital currency on the Coinpayments platform that supports wallets of dozens of digital currencies.

Share: